Low Inventory Doesn’t Sway Daytona Condo Sales

Daytona Beach, FL – Even as realtors continue to struggle with low inventory levels—a problem that has plagued the area for over a year—condo sales still remain up across Daytona Beach. With 198 sales and a median sales price of $257,450, according to analysis of the Daytona Beach Multiple Listing Service (MLS) by Wyse Home Team Realty, June’s sales fell just shy of the 201 units that were sold in May. However, despite falling just three units short, June’s median sales price still outpaced May’s median sales price of $235,000. Yearly comparisons also found that June 2021’s sales are up 17 percent compared to June 2020’s. Additional analysis found that sales volume in June was up by more than $15 million from last year. Median condo sales prices were also found to be 14 percent higher than the median price in June 2020. This comes as available inventory fell yet again, resulting in just 448 units being made active during the month. That’s down from the 460 units active in May, and it’s down 55 percent from the 1,014 units that were available during June 2020. But even with the falling inventory, Ron Wysocarski, broker and CEO of Wyse Home Team Realty, says there’s still about two months worth of inventory available. Ron also clarified that units are in fact coming onto the market, which helps the inventory levels break even, somewhat. "We have enough coming on during the month to replace the sales," said Ron. "We’re staying relatively neutral as far as the numbers are available." Ron also added that the area saw an uptick in resort-style condotel sales. "The area continues to be an attractive spot for affordable vacation investments," said Ron. Highlights from June include the sales of a $1.05 million unit in New Smyrna Beach, a $1.025 million unit in Daytona Beach, and a $940,000 unit, also in New Smyrna Beach.